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How do you determine the fair market value?

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Answer:

There are multiple ways to do this. The best way would be to pay for an appraisal. That could cost you several hundred dollars though. You could check the county appraisal district, but these prices are not always acurate. Search for "[your county] county appraisal district" and then search for the address of the property.
The second best way to figure out the value, other than an appraisal is to run comps. These are comparissons of other properties for sale and sold in the area of your home. Generally up to 1/2 mile out and within the past 6 months. If you do the search based on a specific area or subdivision you will have better luck with more accurate numbers.

First answer by AWPmarketing. Last edit by AWPmarketing. Contributor trust: 0 [recommend contributor ]. Question popularity: 1 [recommend question].

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